M Holdings Securities Inc. boosted its holdings in Simon Property Group, Inc. (NYSE:SPG – Get Rating) by 72.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 5,036 shares of the real estate investment trust’s stock after buying an additional 2,121 shares during the period. M Holdings Securities Inc.’s holdings in Simon Property Group were worth $452,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of SPG. Cowa LLC purchased a new position in Simon Property Group in the first quarter valued at approximately $107,000. BlackRock Inc. raised its stake in shares of Simon Property Group by 5.6% during the third quarter. BlackRock Inc. now owns 35,534,798 shares of the real estate investment trust’s stock valued at $3,189,248,000 after purchasing an additional 1,886,532 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Simon Property Group by 53.4% during the third quarter. Price T Rowe Associates Inc. MD now owns 3,978,238 shares of the real estate investment trust’s stock valued at $357,050,000 after purchasing an additional 1,385,651 shares during the period. Cohen & Steers Inc. raised its stake in shares of Simon Property Group by 4.9% during the third quarter. Cohen & Steers Inc. now owns 24,414,736 shares of the real estate investment trust’s stock valued at $2,191,087,000 after purchasing an additional 1,135,612 shares during the period. Finally, PGGM Investments purchased a new stake in shares of Simon Property Group during the third quarter valued at approximately $98,410,000. Hedge funds and other institutional investors own 83.89% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on SPG. Citigroup lifted their price objective on shares of Simon Property Group from $100.00 to $120.00 in a research note on Wednesday, December 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Simon Property Group from $115.00 to $130.00 in a research note on Tuesday, January 3rd. Mizuho decreased their price target on shares of Simon Property Group from $130.00 to $116.00 in a research report on Monday. Morgan Stanley raised their price target on shares of Simon Property Group from $131.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 22nd. Finally, StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 2nd. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and a consensus target price of $130.58.
Simon Property Group Stock Performance
Simon Property Group (NYSE:SPG – Get Rating) last released its quarterly earnings data on Monday, February 6th. The real estate investment trust reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $3.14 by ($1.08). The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.29 billion. Simon Property Group had a return on equity of 60.33% and a net margin of 40.43%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.09 EPS. Research analysts expect that Simon Property Group, Inc. will post 12.06 earnings per share for the current year.
Simon Property Group Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 10th will be paid a $1.80 dividend. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $7.20 annualized dividend and a dividend yield of 6.56%. Simon Property Group’s payout ratio is currently 110.43%.
Simon Property Group Profile
Simon Property Group, Inc operates as a self-administered and self-managed real estate investment trust. It owns, develops and manages retail real estate properties which primarily consist of regional malls, premium outlets and mills. Simon Property Group specializes in the ownership, development, management, leasing, acquisition and expansion of income-producing retail real estate assets.
- Get a free copy of the StockNews.com research report on Simon Property Group (SPG)
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